The purpose of a solid data strategy is to improve your company’s positioning in the data landscape. By assessing the current state of the business and where the business needs to be, we can identify the size of the gap between them determine what tools or experience is needed to fill it. Data strategy encompasses a wide range of practices and techniques for bridging this gap, so no two data strategies are ever identical.
What would you like to achieve with data? Would you like to:
- Retain customers or gain new business?
- Improve organisation productivity?
- Drive product innovation?
- Automate your reporting in order to make decisions about what to do next?
- Detect fraud, reduce waste, or refine your business processes by developing cutting edge algorithms?
It doesn’t hurt to dream big. The solution or strategy your organisation needs will be dictated, to an extent, by the size of the gap between your current and aspired data state. Consolidata will help you to hone in on what is feasible for your organisation and what can be delivered in a given time period.
Empower your staff
‘According to the Twelve B.V., only 35% of employees feel fully engaged with their organisation’s business.’
One way to empower your staff is to get them immerse them with the insights from your business, training them to use data effectively and apply it to their own work processes as well as yours. One key component of a robust data strategy is to think about how data should flow in your organisation. Should the data flow vertically, top-down or bottom-up? Or should it flow across the organisation, providing a pipeline of insights throughout?
With this in mind, your roadmap might answer questions like:
- What tools should I provide to empower our staff?
- What infrastructure do I need to support horizontal data flow?
- What knowledge and experience do I need to sustain this and scale for growth?
Data strategy is far from menial. Data is becoming increasingly abundant and more complex with the latest advances in data analysis platform, augmented reality and wearable devices. Even in times of uncertainty, implementing a data strategy can provide a plethora of new business opportunities and a perfect chance to be innovative in your markets.
Understanding how data is valuable within an organisation, how to analyse it at scale and how to use the insights to solve real-life problems is becoming (and already is) an absolutely essential skill. With the right set of tools, experience and talent, you can build an environment of driving business success with data and evidence and mould your own data landscape for the future.
Utilize our years of experience in the field and our extensive skills with data modelling in SQL and relational databases, deploying big data solutions, and performing advanced analytics with ease using R and Python. Because we have built our own data platform from scratch, we can point you in the right direction in terms of the technical build and architecture.
Want to learn how data can drive business decision-making? Engage Consolidata